Newmont Corporation $NEM Shares Purchased by Patten Group Inc.

Patten Group Inc. raised its holdings in Newmont Corporation (NYSE:NEM) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,964 shares of the basic materials company’s stock after purchasing an additional 1,975 shares during the period. Patten Group Inc.’s holdings in Newmont were worth $2,794,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in shares of Newmont in the 1st quarter valued at approximately $26,000. Colonial Trust Advisors raised its position in shares of Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Concord Wealth Partners raised its position in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares in the last quarter. Evermay Wealth Management LLC raised its position in shares of Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 347 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the transaction, the director directly owned 36,869 shares in the company, valued at $3,133,496.31. This represents a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the transaction, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,249 shares of company stock worth $1,132,065 in the last three months. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NEM shares. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Royal Bank Of Canada raised Newmont from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $66.00 to $95.00 in a research report on Wednesday, September 10th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.59.

Newmont Stock Performance

NEM stock opened at $86.26 on Wednesday. The firm has a market cap of $94.75 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.65 and a beta of 0.34. The stock’s 50 day simple moving average is $80.11 and its 200 day simple moving average is $64.69. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. As a group, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, September 4th. Newmont’s dividend payout ratio is presently 17.95%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.